Topic: Is Coinbase a safe wallet ? - page 5. (Read 9995 times)
Coinbase is surely one of the safest online wallets out there. The account which are getting hacked are because of user's carelessness or phishing emails, or someone targeting a particular account. Otherwise coinbase itself is a trusted and safe wallet. Just make sure to keep your password complex and long and have 2 factor authentication enabled. Then you are safe mostly. Also don't share your coinbase email with unknown people or in public.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
It's definitely not everyday that this happens.
But the thing with coinbase is that you never know what's going to happen next. Their policy regarding bitcoin forks is extremely inconsistent and you always have to be on the look out for new policy changes.
Also you do not control your own private keys, another downside of using coinbase or any other web wallets/exchanges. This means that if they get hacked, they do not have the responsibility of paying you back. You're trusting them more than you need to.
Actually, Coinbase is not a wallet but it is an exchange that generates public addresses that can be used as wallets for Bitcoin, Litecoin, and Ethereum. Now, since Coinbase is an exchange, it can also be considered as a third-party network where you are not personally the one who's holding your coins but others. And like other third-party systems, they can be hacked or compromised.
In general, if you really want to have a secure wallet, then I would suggest not to use Coinbase, but instead, use a wallet where you have the full control of your private key. Some examples of such wallets are hardware wallets like Ledger, KeepKey, and Trezor, and also desktop/modified wallets like Bitcoin Core, Electrum, Armory, MultiBit, Exodus, Copay, and Green Address.
In general, if you really want to have a secure wallet, then I would suggest not to use Coinbase, but instead, use a wallet where you have the full control of your private key. Some examples of such wallets are hardware wallets like Ledger, KeepKey, and Trezor, and also desktop/modified wallets like Bitcoin Core, Electrum, Armory, MultiBit, Exodus, Copay, and Green Address.
Yes till now things are going fine. They are not scamming yet even there are already some scandals about them. Like not supporting Bitcoin cash and nearly close in the last year.
Its OK as far as online wallets I guess and I use them a lot with GDAX to buy coins
BUT REMEMBER
If you don't have the keys, you don't own the coins. Always remember that.
No I wouldn't say its ab OK wallet, an OK online wallet would be maybe blockchain.info which atleast gives access to your private keys. Coinbase should not be used as an wallet at all IMO, just used as an typical exchange, buy/sell bitcoin and transfer them asap to your 'wallet'. I would say any online wallet can't be considered safe, best using an offline desktop wallet. BUT REMEMBER
If you don't have the keys, you don't own the coins. Always remember that.
Yes coinbase is a safe and secure bitcoin wallet, Currently I’ve over $600 worth of BTC in my wallet without any security issue. I’ve using just password protection for my wallet.
If you need more security then you can enable google Authenticator for your coinbase wallet.
You will also get $10 worth of free BTC when you sign up. Click the link below to signup now.
If you need more security then you can enable google Authenticator for your coinbase wallet.
You will also get $10 worth of free BTC when you sign up. Click the link below to signup now.
I wouldn't use exchanges as wallets. I try not to leave any coins in my exchange accounts. I don't know if I'm paranoid but it never hurts to be prepared. Better safe than sorry.
You will be safer using paper wallet, generated offline from a linux live.
With paper wallet, you have the public key and private key. If you want to see your balance you can do it with public key.
If you want to spend your funds, you can import private key to some wallet like electrum in your smartphone.
With paper wallet, you have the public key and private key. If you want to see your balance you can do it with public key.
If you want to spend your funds, you can import private key to some wallet like electrum in your smartphone.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
I have not heard such a thing, but I do not use Coinbase. There are other options. There is a customer service that is not interested in customer
No you dont own the private keys the exchange could close down tomorrow or be hacked and you would lose all your coins. Better to use a wallett were you control the private keys like electrum or a hardware wallett like trezor.
Its OK as far as online wallets I guess and I use them a lot with GDAX to buy coins
BUT REMEMBER
If you don't have the keys, you don't own the coins. Always remember that.
BUT REMEMBER
If you don't have the keys, you don't own the coins. Always remember that.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
U should always use a wallet where u have your own private key. Do u get a private key at Coinbase? No. So, don't place your coins there. Use a wallet like eg Electrum where u can export your private key and put it at a secure location. Also keep in mind, that exchanges can get closed at any time! If so, u will use all your coins.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
I am sure that it is just plain human error. We always tend to blame something out of something that have occurred and are connect to a some sort of device or technology, but in truth it is all just the person's fault.A coinbase wallet is not that too reckless, it has all the security you needed. Whenever you logged in it will require you to input your email, password and the confirmation code. So obviously it is just a human error, not the wallet itself.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
We can't pinpoint Coinbase directly about hacked and loss coins because at most of the cases, it was user's fault that why others experienced that losses. Some became victim of phishing, poor security, reckless activity at any personal accounts etc. But there are cases that Coinbase freeze some of user's account due to different reasons. I don't experience this that's why I can say that it's not wrong to used Coinbase services sometimes.
Just used Coinbase service but never treat it as a long term wallet for your precious coins.
Yes, Coinbase is backed and verified. We know where they live and where their headquarters is. People getting hacked are more than likely using easy to guess passwords/usernames. Or even worse they are on a public computer and saving their credentials or something like that.
I hear news everyday that people are getting hacked their coinbase account and loss coins. Is it true? Is it safe to keep coins in Coinbase?
I guess its safe if you are just going to put money in there for your trading purposes only. But if you are going to store huge amount, then its not safe. Because in a likely hack, you will lose everything. Might as well used wallet like Electrum or Bitcoin Core to hold your bitcoin because you can have control of your private keys and seeds.
I can't say.. Buh Block chain is what I recommend
Of course coinbase is a safe wallet.People who got hacked their coinbase account is totally the result lf their mistake.Maybe they give their email password to someone or they used same password in many websites.Just to remember that coinbase wallet is the most secure wallet
Coinbase is a reputable exchange but keeping your BTC in exchanges carry certain risks. You never know when will the exchanges close down, when will your account be hacked and etc. It is more safe to keep your BTC in a wallet you call it your, which you control the private key.
Paper wallet or hardware wallet are the two safe wallet you may want to consider.
Paper wallet or hardware wallet are the two safe wallet you may want to consider.
it is only exchange site not wallet and it is safe if hacked it is from users
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